Libor should be reformed and not scrapped according to a review by the chief of financial conduct at the Financial Services Authority Martin Wheatley.

Despite the ongoing scandal over the manipulation of Libor by banks in the UK and abroad, the review said that there was a clear case to “comprehensively” reform the bank lending rate.

The European Stability Mechanism must start with a clean slate according to the Finnish finance minister Jutta Urpilainen.

The British Bankers' Association will support any stripping of its responsibilities relating to Libor, the group said last night.

The chairman of the US Commodity Futures Trading Commission Gary Gensler has called on a rate with observable transactions to replace Libor.

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Italy must maintain momentum on its economic reforms, OECD secretary geenral Angel Gurria said today.

The Basel Committee on Banking Supervision, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors has issued its final report on the supervision of financial conglomerates.

Negotiations over Greece's bailout have been paused until next week after "intense" talks between the country and its international creditors.

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The UK government is likely to miss its debt reduction goals this year after Office for National Statistics figures showed borrowing for the first five months of the year running at over 25% above targets.

Spain has beaten its bond auction target of €4.5bn today with €4.8bn raised this morning.

The Financial Services Authority warned Barclays that would revoke Bob Diamond's appointment as the bank's chief executive if the investigation into Libor proved to have an "adverse effect" a memo released by the Treasury Select Committee reveals today.

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France and Germany have room for an agreement over the proposed banking union according to French finance minister Pierre Moscovici.

The Bank of Japan has become the latest central bank to fire up the printing presses again in a bid to stimulate the economy.

Bank bail-ins must not be used in isolation from other resolution tools when a bank is in trouble, director of the Special Resolution Unit at the Bank of England Andrew Gracie said today.

FEATURES

It is as if nothing has changed as Europe still dominates the news, writes Simon Miller.

Do businesses plan ahead in the light of the faster road and why should they keep their eyes on the road? asks KMPG's head of risk consulting Adam Bates.

Caspar Berry looks forwards to see how we shouldn’t punish ourselves through hindsight

Although the big exchanges dominate the financial press, Latin America is quietly growing in its own way says Simon Miller

Thanks to the sovereign debt crisis, fixed income is no longer seen as a

risk-free investment, writes Sally Percy

A year ago Financial Risks Today was published but despite events, perhaps nothing has really changed, writes Simon Miller.

With the pace of change moving every quickly, is your company one that will keep pace or fall behind? asks KPMG's head of risk Adam Bates.

In an uncertain world, Caspar Berry examines how the rules on good judgement and prediction may have to change

After a few difficult years, it appears that the upturn is about to happen for the hedge fund industry

Risk management systems come in all shapes and sizes. Head of Client Development at UBS Delta Lindsey Matthews CFA discusses some of the key issues to consider in building risk management tools, illustrated using examples from the system

Political risk has always been at the forefront of investors looking for new territories but with yet another turbulent year ahead of us, what political risk and which hotspots are exercising the minds of political analysts?

France is at risk of seeing its sovereign rating downgraded as debt and deficit problems combine with an election year and exposure to troubled eurozone countries. Can France avoid le crunch?


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